Interesting case study. Thought I would share.
I have owned my current vehicle (Hyundai Tucson) for 10 years and 170k miles (current mileage is 202k). I have tracked every maintenance expense for the vehicle, from oil changes to cabin air filters and windshield wipers, in a spreadsheet.
10k purchase price (bought used at 32k miles)
16k maintenance cost
2k tax, title, and registration (each year)
10k insurance (about 1 k a year)
Total cost of ownership so far ~ $38k or ~ $0.216 per mile.
Cost breakdown by year:
| Year | Mileage | Maintenance cost |
|---|---|---|
| 2016 | 34000 | $ 94.00 |
| 2017 | 66000 | $ 1,055.93 |
| 2018 | 91000 | $ 1,925.04 |
| 2019 | 116000 | $ 474.10 |
| 2020 | 134000 | $ 1,527.50 |
| 2021 | 144000 | $ 136.38 |
| 2022 | 156000 | $ 4,139.70 |
| 2023 | 176000 | $ 387.04 |
| 2024 | 185000 | $ 916.80 |
| 2025 | 195000 | $ 3,841.89 |
| 2026 | 202000 | $ 1,023.52 |
I have owned my current vehicle for 10 years and 170k miles. I have tracked every maintenance expense for the vehicle, from oil changes to cabin air filters and windshield wipers, in a spreadsheet.
Total cost of ownership so far ~ $28k or ~ $0.165 per mile.
Other fun facts: Over the last 10 years, I have bought 3 sets of tires, 2 batteries, and 45 oil changes.